Production Linked Incentive (PLI) The scheme has been a tremendous success. Let us tell you that investments worth Rs 1.06 lakh crore have come from PLI scheme for fourteen sectors till December 2023. Medicines and solar modules have contributed almost half of the total investment. According to government data, till December last year, response to the scheme was slow in sectors such as information technology, hardware, auto and vehicle parts, textiles and ACC (advanced chemical cell) battery storage.
PLI scheme was started in 2021
The government has approved investment in 14 sectors such as telecom, electronic goods, textiles, medical devices manufacturing, vehicles, special steel, food products, high-efficiency solar PV modules, advanced chemicals batteries, drones and pharmaceuticals with an outlay of Rs 1.97 lakh crore in 2021. PLI scheme announced for. According to the data, the pharmaceutical sector attracted Rs 25,813 crore till December last year. This is more than the expected investment of Rs 17,275 crore.
These companies took advantage of the scheme
Major beneficiaries from the sector include Dr.Reddy’s Laboratories, Cipla, Glenmark Pharma, Biocon and Wockhardt Ltd. As far as high-efficiency solar PV modules are concerned, the total investment stood at Rs 22,904 crore. Whereas an investment of Rs 1.10 lakh crore was expected from this sector. In this sector, PLI beneficiaries include Shirdi Sai Electricals, Reliance New Energy Solar Ltd, Adani Infrastructure and Tata Power Solar. Other sectors that received good investment till December last year included bulk drugs, medical devices, food processing and telecom.
Lowest investment in IT hardware
The lowest investment was received in IT hardware at Rs 270 crore, whereas investment in this sector was expected to be Rs 2,517 crore. Other PLI sectors with lower investment include vehicles and auto components (Rs 13,037 crore against expected investment of Rs 67,690 crore), textiles (Rs 3,317 crore against expected investment of Rs 19,798 crore) and ACC battery storage (expected investment of Rs 13,810 crore). 3,236 crore) against investment.
Preparation for changes in low investment plan
According to an official, the government is looking into this and may consider changes in the plan for those sectors which are not performing well. The government has disbursed Rs 4,415 crore under the scheme for eight sectors, including electronics and pharmaceuticals, till October this financial year. The PLI scheme aims to attract investment in key sectors and cutting-edge technology to ensure efficiency, accelerate manufacturing and make Indian companies and manufacturers globally competitive.
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